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I didn't see anything in the article about those people buying what they couldn't afford. What does it matter what someone does with their money as long as they can pay for it? And just because someone had the title "CFO" doesn't mean they were one of those Goldman Sachs types who spent billions of dollars on bad investments.
I didn't see anything in the article about those people buying what they couldn't afford. What does it matter what someone does with their money as long as they can pay for it? And just because someone had the title "CFO" doesn't mean they were one of those Goldman Sachs types who spent billions of dollars on bad investments.
You can't afford "luxury" items if you aren't putting away substantial savings as well, and their savings wasn't nearly what it should have been given their income and ages.
He got six months severence (that's $175K after taxes), had $200K in savings (even if it was $160K after penalties), and $450 a week unemployment and he couldn't make ends meet 16 months later? They were in trouble before he even got laid off, living well beyond their means given taht equation.
For the Unemployed Over 50, Fears of Never Working Again (http://finance.yahoo.com/focus-retirement/article/110742/for-the-unemployed-over-50-fears-of-never-working-again - broken link)
"Patricia Reid is not in her 70s, an age when many Americans continue to work. She is not even in her 60s. She is 57.
But four years after losing her job she cannot, in her darkest moments, escape a nagging thought: she may never work again.
College educated, with a degree in business administration, she is experienced, having worked for two decades as an internal auditor and analyst at Boeing before losing that job.
But that does not seem to matter, not for her and not for a growing number of people in their 50s and 60s who desperately want or need to work to pay for retirement and who are starting to worry that they may be discarded from the work force — forever."
THE NEW POOR: Articles in this series are examining the struggle to recover from the widespread strains of the Great Recession.
They have weird priorities. Why would he get a $150 bag when he's only driving a Volvo SUV? If I'm making 400K per year then I'd probably get a nice BMW M6 first.
Maybe they have an inkling of how us "regular folks" feel now.
Sympathy for them? Pleeeaase. They of ALL people should have been saving loads of $$$, in my humble opinion. It's mean of me, but that's how I feel.
Maybe they have an inkling of how us "regular folks" feel now.
Sympathy for them? Pleeeaase. They of ALL people should have been saving loads of $$$, in my humble opinion. It's mean of me, but that's how I feel.
I feel the same way.
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